While AI has been actively used by companies for some time now and is deployed in a wide variety of use cases, blockchain solutions are still much less in demand. However, this could soon change, as AWS states in a recently published article.
This is because blockchain and AI have good synergies with each other, as both technologies are used for data heavy processes and have different areas of application and offer complimentary benefits. In the above mentioned article, AWS discusses its already developed applications that demonstrate the transformative potential of blockchain and AI.
AWS Harnesses AI for Smart Contract Analysis and Fraud Detection
One significant application is in smart contract analysis and fraud detection. AWS leverages generative AI to analyse blockchain-based smart contracts for vulnerabilities, such as logic errors or potential exploits like reentrancy attacks. By deploying AI agents to monitor transactions, AWS helps organisations identify suspicious activities, such as fraudulent patterns or compromised accounts. This proactive approach enhances the security and trustworthiness of decentralised systems, encouraging broader adoption.
Responsible AI: Transparency and accountability
AWS uses blockchain to ensure transparency and accountability in AI model development. Services like Amazon Bedrock allow customers to evaluate and fine-tune foundation models, while blockchain ensures the integrity and provenance of the training datasets used. This combination is particularly valuable for mitigating risks like misinformation or unauthorised content generation. Additionally, AWS’s blockchain-powered solutions support intellectual property protection by cryptographically verifying AI-generated content’s origin and enabling traceability in case of copyright disputes. These features provide a robust framework for responsible AI implementation, catering to industries ranging from content creation to finance.
Leveraging blockchain and AI for data accessibility
AWS also enables streamlined data access and management through its integration of blockchain and AI. Various platforms are powered by AWS infrastructure that democratise blockchain data by simplifying queries with natural language processing. This allows users, regardless of technical expertise, to analyse and derive insights from blockchain datasets. Furthermore, by employing tools like Amazon Managed Blockchain and Amazon SageMaker, AWS facilitates the creation of decentralised AI protocols, which track data lineage, protect privacy, and incentivise contributions to AI model development. These use cases showcase how AWS’s innovative solutions harness AI and blockchain to address critical challenges while unlocking new opportunities for businesses and developers alike.
Partnership between AWS and BSV Blockchain
With infrastructure like Teranode, Overlay Services and the SPV wallet, which AWS has helped to create among others, enterprises can rely on the BSV blockchain to leverage Web3 capabilities. Compared to competitors, it offers reliably low fees and fast transactions with Teranode being able to process one million transactions per second at the cost of a few ten-thousands of a cent per transaction. This unparalleled scalability places the BSV blockchain as a top alternative for enterprise solutions.
The partnership with AWS is an important step in bringing the benefits of a scalable blockchain closer to companies. Although the advantages are obvious, for many companies they are not easy to implement independently. AWS, on the other hand, delivers streamlined solutions in the AWS Marketplace. These can be implemented with just one click and thus provide the easiest possible access to the many benefits of the BSV blockchain.
